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REFINING: China's Sinochem Issued 2025 Crude Quota: Reuters

REFINING
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China’s state run Sinochem has received a crude oil import quota of 17.12mn metric tons for 2025 for the groups eastern China refineries according to Reuters sources. 

  • It equates to 342,400 bpd and is part of the broad 2025 quotas allotted to the country's independent refiners.
  • The sources said the companies three Shadong refineries declared bankrupt this year could resume operations. It was reported last month that Sinochem may keep them because of little buying interest.
  • State-run CNOOC also received 3 million tons of crude import quota for its majority controlled subsidiary refinery in east China's Ningbo.
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China’s state run Sinochem has received a crude oil import quota of 17.12mn metric tons for 2025 for the groups eastern China refineries according to Reuters sources. 

  • It equates to 342,400 bpd and is part of the broad 2025 quotas allotted to the country's independent refiners.
  • The sources said the companies three Shadong refineries declared bankrupt this year could resume operations. It was reported last month that Sinochem may keep them because of little buying interest.
  • State-run CNOOC also received 3 million tons of crude import quota for its majority controlled subsidiary refinery in east China's Ningbo.